In the blogs: Less of a headache

Re-targeting PPP; how to charge more; this season’s challenges; and other highlights from our favorite tax bloggers.

To the rescue

• Tax Foundation (https://taxfoundation.org/blog): As part of lawmakers’ recent wrangling over President Biden’s $1.9 trillion coronavirus relief package, the Senate Democrats’ compromise of faster phaseout rates to be eligible for checks will create high marginal tax rates on taxpayers over a narrow range of income. How this change makes the direct payments more targeted to those in need but also creates higher marginal tax rates.
• Current Federal Tax Developments (https://www.currentfederaltaxdevelopments.com): The Senate version of the American Rescue Plan of 2021 added a special rule that applies to unemployment compensation for taxable years beginning in 2020. What they are and how to apply them.
• Summing It Up (http://blog.freedmaxick.com/summing-it-up): Some of the things to expect once the legislation is signed.
• Boyum & Barenscheer (https://myboyum.com/blog/): The PPP’s stated objective was of course “to provide a direct incentive for small businesses to keep their workers on the payroll.” According to federal officials, the recently issued second round of funding has distributed only a small percentage of the $15 billion set aside for small businesses and low- to moderate-income “first-draw” borrowers. What’s being done to remedy that.
• Tax Warriors (https://www.taxwarriors.com/blog): Forget just bringing them apples. Among the many frontline workers braving the pandemic are teachers and educators, who can now broaden the list of deductible unreimbursed educator expenses to include protective items used to prevent the spread of COVID-19 in the classroom. Here is the guidance.
• AICPA (https://blog.aicpa.org/): In honor of International Women’s Day, this year’s look at the achievements of women and their insights in the accounting profession includes perspectives on the pandemic.

Less of a headache

• Taxbuzz (https://www.taxbuzz.com/blog): The latest chat looks at what tax preparers think are this season’s greatest challenges. Where to begin?
• Canopy (https://www.canopytax.com/blog): Some of the best recent blog posts discuss ways to make tax season more efficient, more enjoyable and less of a headache.
• TaxMama (http://taxmama.com): Common tax problems in most months of March (and this one especially) and how to address them.
• Financial Cents Accounting Blog (https://financial-cents.com/blog/): No matter what the time of year and no matter how frantic you are, there’s always time for this one: “Tips for Increasing Fees with Current Clients.”

Quite a collection

• Mauled Again (http://mauledagain.blogspot.com/): The now former Seminole County, Florida, tax collector is back in the news — definitely not in a good way, and definitely not just for financial stuff.
• Procedurally Taxing (https://procedurallytaxing.com): Whether a taxpayer has filed a return impacts not only the statute of limitations and penalties but also bankruptcy discharge. Another case has come out addressing the issue of whether a return was filed: Harold v. United States, in which the district court affirms a bankruptcy court’s order denying discharge to a debtor who sent a revenue officer his return but never filed the return with the IRS at the appropriate service center.

Sources of revenue

• Taxjar (http://blog.taxjar.com/): Are fitness items taxable? Taxjar staffers may be about to find out as the company’s Step Challenge looms.
• Sagenext (https://www.thesagenext.com/blog): Data centers have become an integral part of a business’s scheme of things amidst rising competition. You still better choose one carefully, and here are some pluses to look for.
• Sikich (https://www.sikich.com/insights/): Not your parents’ HR: Employers and their human capital management teams had to make sure they were aware of and complying with legislative changes while balancing workforce challenges, workplace safety and business closures as a result of the COVID-19 pandemic.
• National Association of Tax Professionals (https://blog.natptax.com/): Research has referred to financial planning as “a natural evolution” for accounting firms. What this increasingly indispensable field involves, from a practical add-on standpoint.
• TaxProf Blog (http://taxprof.typepad.com/taxprof_blog/): Information Please Dep’t.: A look at “a new theory of tax on data collection and transmission as a primary source of government revenue.”